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Supplemental Contractor Agreement

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Title:

Supplemental Contractor Agreement

Entities:

Technical Olympic USA Inc.; Engle Homes, Inc.; Technical Olympic USA Inc.

Date:

2003

Size:

Preview shows 3KB of 14KB total

Price:

$39

ID:

#119608

► Fee Agreements ► Contractor ► Supplemental Contractor Agreements
► Construction

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                        SUPPLEMENTAL CONTRACTOR AGREEMENT



This Supplementary - Explanatory Contractor Agreement (the "Agreement") is

entered into effective as of the 3rd day of January 2001, by and between ENGLE

HOMES INC., a Florida corporation ("ENGLE") and TECHNICAL OLYMPIC S.A., a Greek

corporation ("CONTRACTOR") through its registered branches in Texas or Florida.



                                    RECITALS



WHEREAS, on November 22nd 2000, a Contractor Agreement between ENGLE and the

CONTRACTOR, was signed.



WHEREAS, ENGLE and the CONTRACTOR desire to complete and clarify hereof the

Contractor Agreement dated November 22nd 2000.



WHEREAS, ENGLE desires for its subsidiaries and affiliates in Texas or Florida

(the "ENGLE Entities") to receive economic benefits by utilizing the services of

CONTRACTOR, for a total contract value of ONE HUNDRED FORTY ONE MILLION THREE

HUNDRED NINETY THOUSAND DOLLARS ($141.390.000), that is:



         a.       Texas - fourteen million five hundred thousand dollars

                  ($14.500.000)



         b.       Florida - one hundred twenty six million eight hundred ninety

                  thousand dollars ($126.890.000)



WHEREAS, CONTRACTOR is willing to provide such services for the business

operations of the ENGLE Entities in Texas or Florida;



WHEREAS, for such purpose, ENGLE will cause the ENGLE Entities in Texas or

Florida to assign their respective rights under certain construction contracts

currently in effect and certain future construction contracts (the "Assigned

Construction Contracts") to CONTRACTOR, and CONTRACTOR will assume the Assigned

Construction Contracts, subject to the terms and conditions set forth herein;



WHEREAS, CONTRACTOR will enter into certain other or additional construction

contracts for the operations of the ENGLE Entities in Texas or Florida (such

contracts collectively with the Assigned Construction Contracts, the

"Contracts");



WHEREAS, CONTRACTOR and ENGLE desire to document their agreements;



NOW, THEREFORE, KNOW All MEN BY THESE PRESENTS, that in consideration of the

mutual benefits to assure to each of the parties hereof, the receipt and

sufficiency of which are hereby acknowledged, ENGLE and CONTRACTOR hereby agree

as follows:



1.       Engagement.



         ENGLE hereby engages CONTRACTOR, and CONTRACTOR hereby accepts such

         engagement and agrees to perform the construction services described in

End of Preview

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